Getting Started 2024

[Imani Naomi]

Hello Everyone, 

I am looking to purchase my first rental property in Detroit. I am interested in using private money lending to make it happen. I have been studying for my real estate degree for the past 3 years and would love to get my feet wet. I am hoping to get some advice from those who have gone down the "private money lending" path before. 

What are some of the best practices for finding and approaching private money lenders? Are there specific things I should look out for or avoid? Any tips on structuring deals or ensuring a smooth process would be greatly appreciated?

Thanks

[Drew Sygit]

@Imani Naomi what is your definition of private money?

What percentage of the purchase price of a rental are you looking for from private money?

How much of your own money are you putting into a purchase?